Public invited to comment on Richmond’s proposed 5 Year Financial Plan
16 December 2021
The City of Richmond is inviting taxpayers to provide feedback on its proposed Consolidated 5 Year Financial Plan (2022-2026) Bylaw No. 10327 which enables the City to meet the needs of the community and maintain civic service levels for the coming five years.
From now until Sunday, January 9, 2022 the public may submit comments online at www.LetsTalkRichmond.ca, via email or delivery to City Hall.
Each year, Council approves three budgets to guide municipal spending.
- The Operating Budget funds the provision of general City services based on the level of service approved by Council. The Operating Budget also includes one-time expenditures with no tax impact.
- The Capital Budget funds investment in new or replacement infrastructure and equipment.
- The Utility Budget supports provision of water, sewer, drainage, garbage and recycling services.
Once Council approves each of its annual three budgets, the City develops a Consolidated 5 Year Financial Plan. The plan is based on the recently approved annual budgets along with estimates derived from economic forecasts and other expected impacts on revenues and spending.
This plan provides a financial road map for the City to manage its resources, revenues and spending to best serve the community. It also ensures the City meets its legal requirement to deliver balanced annual operating budgets.
The proposed Consolidated 5 Year Financial Plan (2022-2026) Bylaw No. 10327 along with the 2022 Operating, Capital and Utility budgets, is available for review at www.LetsTalkRichmond.ca or on the City’s website at www.richmond.ca/5YFP.
Comments are due on or before 11:59 p.m. on Sunday, January 9, 2022, via www.LetsTalkRichmond.ca, by email to firstname.lastname@example.org or by written submission addressed to the Finance Department, City of Richmond, 6911 No. 3 Road, Richmond, BC, V6Y 2C1.
It is anticipated that Bylaw No. 10327 will be considered by City Council for adoption at the Regular Council Meeting on Monday, January 24, 2022 at 7:00 p.m. in the Richmond City Hall Council Chambers. Space is limited, at this time, for in-person attendance at Council meetings. As an alternative, you may provide written comments in advance of the meeting, or participate in the meeting remotely via telephone, instead of attending in-person. Members of the public are encouraged to register as early as possible in advance of a meeting. Registration closes at 1:00 p.m. on the date of the meeting. Information on how to register is available at: www.richmond.ca/cityhall/council/phone-participation.